ETHSecurity Community

GM. Blockaid is a leading web3 security company that helps builders protect their users from fraud, phishing, and hacks.

Anytime our researchers discover an emerging threat, we post the details, so follow us for up-to-date web3 security analysis.

⚠️ Last week we discovered Restake Farming ⚠️ 
(🧵 below)

Angel Drainer group has introduced a new attack vector utilizing a protocol to execute a novel form of approval farming attack through the 'queueWithdrawal' mechanism.

Protect web3 users from fraud, phishing, and hacks.

Angel Drainer group has introduced a new attack vector utilizing a protocol to execute a novel form of approval farming attack through the 'queueWithdrawal' mechanism. 

As we help share impacted wallet addresses, we have also begun to roll out a fix to ensure that all Blockaid-enabled users are protected.

What is Restaking and what is the new technique being used?

Restaking rewards are an incentive provided by EigenLayer, an EVM protocol that enables restaking to extend ETH cryptoeconomic security to additional applications. 

In this case, the Angel Drainer Group (which is responsible for last month’s Ledger Connect Kit attack) have introduced a novel form of approval farming through the queueWithdrawal mechanism of the EigenLayer protocol.

Learn more in our blog here: https://www.blockaid.io/post/emerging-attack-vector-restake-farming

This allows users that stake ETH natively or with a liquid staking token (LST) to take those staked funds to restake in other applications.

As is often the case with new and innovative technologies, attackers seek to find novel ways to drain user wallets. 